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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Taki who wrote (132877)	5/19/2004 9:14:56 AM
From: dkgross	Read Replies (1) \| Respond to of 150070

ya just beat me to it :)

To: Taki who wrote (132877)	5/19/2004 9:18:31 AM
From: Taki	Read Replies (1) \| Respond to of 150070

FRCD.031 news.Fairchild International receives update from Texas Wednesday May 19, 9:02 am ET VANCOUVER, May 19 /PRNewswire-FirstCall/ - Fairchild International Corporation ("Fairchild") (OTCBB:FRCD - News) is pleased to report drilling has reached 6000 feet toward a target of 7000 feet on the initial test well at the Manahuilla Creek prospect in Goliad County, Texas as This report was provided today by PB Energy Partners Ltd., the operator. Yesterday, after drilling out from intermediate casing, two series of sands were encountered. The first sand included a 58 foot zone. Mud weight was cut indicating the bottom hole pressure in excess of 3,000 psi, a geo-pressured zone. There were also sporadic oil shows in the form of fluorescents in the sands. The second series of gas shows occurred 400 feet lower down. These occur in concurrence with four drilling breaks of between 4 and 20 feet. Bottom hole pressures indicated approximately 3,800 psi. The Manahuilla Creek Project is a proposed drilling area targeting the expanded Yegua trend which is a prolific over pressured gas-condensate trend in the Middle-Eocene of the onshore Gulf Coast Basin. Total gas production to date in this formation exceeds 800 bcf (billion cubic feet) with an estimated ultimate trend recovery close to 2 tcf (trillion cubic feet). Several fairly prolific fields have been discovered and exploited in Goliad county, two of the most recent being the Jobar field and the Perdido Creek field. The Jobar field is located in a normal pressured Yegua sequence. Recoverable reserves in this field are 900 mcf/ac.ft. (1000 cubic feet per acre foot). The most prolific well has produced 1.8 bcf to date and had maximum production rates of 5000 mcf/d (1000 cubic feet per day). The Perdido Creek field is down dip and geopressured with bottom hole pressures of 3600 psi at 5600 feet. Recoverable reserves in this field are 1100 mcf/ac.ft. Initial production rates are approximately 2000 mcf/d with cumulative production in one well over 1.7 bcf. The Manahuilla prospect is located on a downthrown fault block from the Perdido Creek field. The amplitude characteristics of this series of sands look identical to the Jobar and the Perdido Creek fields with the exception that it is much more extensive in area. The prospect covers over 1200 acres 4 miles to the south of the Perdido Creek field. The Yegua sands occur at 6150 feet to 6500 feet. Independent estimates indicate that gross gas reserves are between 96 to 150 bcf with gas reserves per well at 19.2 bcf. Fairchild International Corporation is an emerging energy enterprise with natural gas production in California and producing oil wells in Saskatchewan, Canada. Fairchild International continues to grow in domestic North American oil and gas exploration prospects and seeks opportunities internationally.